FINAL TRADE: Sensex down 284 pts, Nifty settles below 19,000; Sun Pharma surges over 2.6%

Stock market today: The domestic equity market on Wednesday, November 1, settled in the red for the second consecutive session, dragged by weakness in metals due to weak economic data from China and on jitters ahead of the US Federal Reserve's policy decision.

At close, the S&P BSE Sensex was down 283.6 points, or 0.44 per cent, at 63,591.33, and the NSE Nifty ended 90.45 points lower, or 0.47 per cent, down at 18,989.15.

In the Nifty basket, 36 stocks finished negative, with Adani Enterprises, Coal India, SBI Life, Adani Ports, and Tata Steel being the major laggards, slipping 2.01 to 3.43 per cent for the day. Conversely, Sun Pharma, BPCL, HDFC Life, Hindalco, and Tata Consumer Products were the top gainers.

Asian Paints, Tata Steel, and Nestle India were the top stocks that dragged the 30-scrip index.

"Nifty Reality was the sector that outperformed today up by 1.55 per cent while Nifty Pharma, Nifty PSU Bank, and Nifty Oil and Gas were the sectors that ended the day with marginal gains. Macroeconomic data from India and FII withdrawals stressed the markets today. India's PMI for manufacturing fell to 55.5 in October from 57.5 in September which is slightly negative," said Vaibhav Vidwani, Research Analyst, BONANZA PORTFOLIO LTD.

Nifty Mid Cap 100 and Small Cap 100 closed in negative territory.

High-beta Nifty Bank was down 0.34 per cent at 42,700.95.

BUZZING STOCKS 

Sun Pharma shares surged over 2 per cent after releasing September quarter numbers.

RattanIndia Enterprises shares were up over 1 per cent after the company received Type-Certification for its drone product, DOPO, from the Directorate General of Civil Aviation (DGCA).

Vodafone Idea shares were up nearly 8 per cent, a day after its earnings call.

Birlasoft shares were up over 4 per cent, a day after the company posted its Q2 results.

Blue Star shares were up nearly 8 per cent higher a day after the company reported its Q2 numbers.

Conversely, Jindal Steel and Power shares slipped over 7 per cent after its Q2 net profit declined.

India Cement shares traded over 5 per cent lower after posting a net loss in Q2.

Max Financial Services shares were down over 2 per cent despite posting inline to slightly positive earnings for the July–September period.

GLOBAL MARKETS 

Asian shares were mostly higher on Wednesday after Wall Street advanced to claim back some of the ground it gave up in another losing month.

Investors are awaiting a decision later Wednesday by the Federal Reserve on interest rates and updates on the state of the U.S. economy.

The overwhelming expectation is that the Fed will keep its overnight interest rate steady. The bigger question is how long it will keep that main rate high.

(with agency inputs)

Catch the latest stock market updates here. For all other news related to business, politics, tech, sports and auto, visit Zeebiz.com.